Doudlepro advisor on pending orders.

The Doudlepro Expert Advisor is an indicator trading expert based on a strategy based on pending orders.
The expert does not use dubious Forex money management models, such as martingale and averaging, which allows it to be used on a real account even with a minimum deposit.

Doudlepro itself is universal and can be used on any currency pair depending on the trader's preference.

The choice of a working time frame depends entirely on the settings of the expert, but by default it is better to use it on a five-minute chart for major currency pairs.

Installing the Doudlepro advisor

To get started, download the expert file, as well as the custom indicator file, and then install them in the MT4 trading terminal. Doudlepro installation follows the standard procedure, namely, you will need to dump the indicator and expert files into the appropriate folder in the terminal data directory.

To do this, launch your MT4 trading terminal and go to the file menu in the upper left corner. In the list of options that appears, find the line called “open data directory” and run it.

Next, you will see a list of system folders of the platform, among which find the folder called Expert and drop the Doudlepro advisor file into it, and also find the folder called indicators and drop the e-Rainbow indicator file into it.

After installing the EA files, you need to update the MT4 trading terminal or restart the trading platform.


After restarting the terminal, Doudlepro will appear in the list of advisors, and in order for it to start trading, just drag the name of the advisor onto the five-minute chart of the currency pair you have chosen.
 
Doudlepro advisor trading strategy. Settings

The Doudlepro advisor basically contains a breakout strategy based on pending orders. This is how the expert fixes the market signal using the e-Rainbow indicator, and the direction of the signal does not matter, and only the prospect of further price movement is taken into account.

Then the advisor forms a certain range from the signal point, namely, places two pending orders sell stop And bye stop at the distance specified in the settings from the intended entry point.

After the order is triggered, the expert either fixes the profit or loss according to the stop order and profit.

 
Unfortunately, in the advisor settings there is no option to influence the determination of the entry point by changing the settings of the e-Rainbow indicator, but at the same time you can influence the transaction support system.

So in the Lot line you can set the volume of positions for pending orders. The SL and TP lines allow you to set a stop order and profit in points, and the Step line allows you to change the indent in points for pending orders from the signal point.

The LotDec line sets the rounding of the lot, and in the Magic line you can change the personal code of the advisor, thanks to which the expert tracks only the actual open Forex orders.

Robot testing.

In order to test the prospects of using the Doudlepro advisor, we decided to test it in the strategy tester on the Euro/Dollar currency pair on a five-minute chart for the entire 2016.

Testing took place with default settings, and you can see the test result in the graph below:

 In conclusion, it is worth noting that the Doudlepro expert successfully passed the allotted historical section of the test, which undoubtedly indicates its effectiveness and promise.

However, it is worth understanding that the settings at this stage are outdated, so in order to get a more even yield curve, it is necessary to carefully optimize it.

Download Doudlepro advisor.